Ekort Property Management Belleville, Ontario
Having the wrong tenant in a property can create long term problems for property managers. VeriFast allows us to uncover the red flags that credit checks and other verification tools miss. Jamie Troke, Owner, ekort property management
Ekort is an independently owned and operated property company in Belleville that operates more than 200 rental units in the Bay of Quinte region in Prince Edward County. With over 30 years of experience working in the real estate, rental, and economic development industry, Ekort takes pride in assisting with the growth of this beautiful area and creating strong and trusting relationships with its residents. The company played a critical role in the development of the VeriFast platform, which was rolled out to its entire portfolio in 2021.
The Bay of Quinte region is one of the fastest growing areas in Ontario, and it has become a desirable place for seasonal and full-time residents. As the area has grown, there has been an increased demand for rental units. Ekort currently has more than 200 apartments in several midsized buildings throughout the region. One of the biggest sources of problems that the company faces is suboptimal residents who are unable to pay rent every month. Not only does this lead to financial losses in the short term, but infections can be expensive and time consuming. Ekort needed a better way to screen prospects make sure that they have the financial means to live in its properties.
“Credit checks don’t work at all because they don’t present the full financial health of prospective residents who are looking to move into our properties,” says Troke. “We realized that we needed a better way to identify good tenants and filter out ones who might not be ideal, and we felt that there had to be a technology that could help us. We looked around and didn’t find anything that really met our needs, so I sat down with what became the leadership team at VeriFast to develop our own tool that would meet the specific needs of the rental residential market.”
“The most important factor for any property owner is the ability of a resident to pay rent. Credit checks don’t address that because they don’t give insight into monthly bank balances. We built VeriFast to give us access to that kind of information in a matter of seconds. We also added other functionality so that we could look at it prospects’ overall financial health and past activities to know if they would be ideal tenants. We deployed the solution earlier this year, and the results have been amazing. We can determine almost instantly if someone is a good fit.
I am extremely proud of the role that I played in helping develop this platform, and I am extremely impressed with what the VeriFast team is doing with it across the industry. This is truly a game changer.”
50% Reduction in credit report costs
70% Reduction total hours spent per applicant
60% Reduction of total cost for tenant screening
50% Reduction of incoming emails